Resistance: $5.08, $5.30Support: Lower blue trendline, $4.86Comment: There is a good chance for it to break above $5.08 to create a double bottom formation. Today, it closed above the 20dMA, together with the lower blue trendline to form its immediate support. The immediate upside target is $5.30 (the double bottom formation target).

India's foreign exchange reserves rose $2.7 bn last week toreach a record high as the Reserve Bank of India continuedto buy U.S. dollars in a bid to shore up its defences againstany potential volatility in global currency markets.Q sgx trading